Hourly.io is an insurtech startup offering full-service payroll and workers' comp insurance for small and medium businesses with hourly workers.
Hourly's mission is to help hourly employers and employees achieve their goals better and faster.
Hourly was founded in 2015 by Tom Sagi, alongside with Shay Litvak. The company is headquartered in Palo Alto, California.
Hourly has built an app that tracks working hours, generates payroll and then calculates and assigns workers’ compensation insurance to individuals based on that.
Hourly's platform utilizes real-time wage data to ensure running payroll is as quick as pressing a button and that you get accurate workers' comp premiums down to the penny.
Hourly today has some 1,000 customers, all in the state of California, in areas like construction, home services.
Hourly is backed by Glilot Capital Partners, S Capital, MS&AD Ventures, Inovia Capital, J-Angels, Vintage Investment Partners, Upshot Ventures, and others. The company raised $27M in Series A round on Jun 01, 2022. This brings Hourly's total funding to $34.2M to date.